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Uncover the urgent and critical protections businesses must have in place now to protect…
Bank Accounts: The bank is NOT required to replace funds stolen due to cybercrime, and unless businesses have a very specific type of insurance policy, any financial losses will be denied coverage- Client Data: The courts will not support your case if if you expose client data to cybercriminals, not to mention the reputational damages that come along with breaking data breach laws
- Confidential Information: Payroll, HR, accounting firms and more have direct access to highly confidential information which could be sold, stolen or encrypted
- Reputation: When a data breach occurs, news travels FAST and it is the responsibility of the business, and those in charge, to have the proper protections in place for their confidential information and their clients
CYBER
Cybersecurity in Numbers: Eye-Opening Statistics
Cybercrime Costs:
The average cost of a data breach for businesses globally is $3.86 million, according to a study by IBM Security and the Ponemon Institute.
Small Businesses Targeted:
Small businesses are not immune to cyberattacks. In fact, 43% of cyberattacks target small businesses, according to the Verizon Data Breach Investigations Report.
Phishing Attacks:
Phishing attacks remain a significant threat. Approximately 91% of cyberattacks begin with a phishing email, according to a report by PhishMe.
Ransomware Attacks:
Ransomware attacks continue to rise. In 2021, the average ransomware payment increased by 171% to reach $220,298, according to Palo Alto Networks.
Insider Threats:
Insider threats pose a significant risk. IBM's 2020 Cost of Insider Threats Report found that the average cost of an insider-related incident is $2.79 million.
Human Error:
Human error remains a leading cause of data breaches. According to the IBM Security X-Force Threat Intelligence Index 2021, misconfigured cloud servers and other human errors were responsible for 19% of data breaches.
Mobile Device Vulnerabilities:
Mobile devices are increasingly targeted by cybercriminals. In 2020, mobile phishing attacks increased by 37%, as reported by Verizon's Mobile Security Index.
Third-Party Risk:
Third-party vendors can introduce vulnerabilities. The Ponemon Institute's Third-Party Risk Study states that 59% of companies have experienced a data breach caused by a third party.
Lack of Preparedness:
Many businesses are not adequately prepared for cyber threats. According to the Hiscox Cyber Readiness Report 2021, 43% of businesses surveyed had no cybersecurity plan in place.
Emerging Threats:
Emerging technologies bring new risks. Gartner predicts that by 2025, 40% of all cyberattacks will involve artificial intelligence as an attack vector.
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